Colombia’s emeralds generating more fear than revenue
Colombia’s emeralds generating more fear than revenue
Sep 22, 2014 posted by Joel Gillin
While fear continues to grow in Colombia’s central Boyaca state over emerald trade-related violence, locals are complaining that they see little revenue from an industry which benefits just a few wealthy families.
Colombia’s El Tiempo newspaper reported Monday that Boyaca, the center of the country’s emerald trade, has received just under $760,000 in royalties from mining companies since January. That amounts to only 0.5% of the state’s royalties this year.
This, despite the fact that last year international markets received well over $100 million worth of Colombian emeralds. Many believe one of the reasons for such inconsistencies is the lack of state control over the industry.
Commenting on the topic, Boyaca’s governor, Juan Carlos Granados, recently stated that what his region receives from the emerald trade is “derisory.” Granados also attempted to soothe fears regarding the possibility of another “Green War” in which the various emerald barons would return to the violence which marred the trade in the 1970s and 1980s.
More:
http://www.colombiareports.co/colombia-emeralds-generating-fear-revenue/
